About Ethiopia

Officially the Federal Democratic Republic of Ethiopia (የኢትዮጵያ ፌዴራላዊ ዲሞክራሲያዊ ሪፐብሊክ, yeʾĪtiyoṗṗya Fēdēralawī Dēmokirasīyawī Rīpebilīk About this sound listen (help·info)), is a country located in the Horn of Africa. It shares borders with Eritrea to the north and northeast, Djibouti and Somalia to the east, Sudan and South Sudan to the west, and Kenya to the south. With over 102 million inhabitants,[3] Ethiopia is the most populous landlocked country in the world and the second-most populous nation on the African continent. It occupies a total area of 1,100,000 square kilometres (420,000 sq mi), and its capital and largest city is Addis Ababa.

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Economy and Infrastructure

According to the IMF, Ethiopia was one of the fastest growing economies in the world, registering over 10% economic growth from 2004 through 2009.[150] It was the fastest-growing non-oil-dependent African economy in the years 2007 and 2008.[151] In 2015, the World Bank highlighted that Ethiopia had witnessed rapid economic growth with real domestic product (GDP) growth averaging 10.9% between 2004 and 2014.[152]

In 2008 and 2011, Ethiopia's growth performance and considerable development gains were challenged by high inflation and a difficult balance of payments situation. Inflation surged to 40% in August 2011 because of loose monetary policy, large civil service wage increase in early 2011, and high food prices.[153] For 2011/12, end-year inflation was projected to be about 22%, and single digit inflation is projected in 2012/13 with the implementation of tight monetary and fiscal policies.[154]

Agriculture

 

Agriculture constitutes around 85% of the labour force. However, the service sector represents the largest portion of the GDP.[8] Many other economic activities depend on agriculture, including marketing, processing, and export of agricultural products. Production is overwhelmingly by small-scale farmers and enterprises, and a large part of commodity exports are provided by the small agricultural cash-crop sector. Principal crops include coffee, legumes, oilseeds, cereals, potatoes, sugarcane, and vegetables.